Mirae Asset Global Investments Co. Ltd. Buys 30,414 Shares of News Corporation $NWS

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of News Corporation (NASDAQ:NWS) in the third quarter, HoldingsChannel reports. The institutional investor purchased 30,414 shares of the company’s stock, valued at approximately $965,000.

Other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in News by 79.4% in the 2nd quarter. Allworth Financial LP now owns 1,717 shares of the company’s stock valued at $48,000 after purchasing an additional 760 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of News by 21.1% during the first quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the company’s stock worth $65,000 after purchasing an additional 397 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of News during the second quarter worth about $65,000. V Square Quantitative Management LLC boosted its position in shares of News by 21.0% in the third quarter. V Square Quantitative Management LLC now owns 2,741 shares of the company’s stock worth $87,000 after buying an additional 475 shares during the period. Finally, Bessemer Group Inc. boosted its position in shares of News by 37.2% in the first quarter. Bessemer Group Inc. now owns 3,801 shares of the company’s stock worth $108,000 after buying an additional 1,030 shares during the period. 14.63% of the stock is currently owned by institutional investors and hedge funds.

News Stock Performance

Shares of NWS opened at $28.96 on Monday. The business’s 50 day moving average is $32.63 and its two-hundred day moving average is $30.46. News Corporation has a 52-week low of $25.49 and a 52-week high of $35.76. The firm has a market cap of $15.67 billion, a price-to-earnings ratio of 25.86 and a beta of 1.00. The company has a quick ratio of 1.50, a current ratio of 1.62 and a debt-to-equity ratio of 0.22.

News (NASDAQ:NWS) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. News had a net margin of 6.76% and a return on equity of 7.42%. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.27 billion. Analysts forecast that News Corporation will post 1.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NWS. Weiss Ratings upgraded News from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, October 26th. Zacks Research lowered News from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

About News

News Corporation, which trades on Nasdaq as NWS, is a global media and information services company. Its businesses span news and financial information, book publishing, digital real estate services, and news media.

Its brands and operations include Dow Jones, publisher of The Wall Street Journal and provider of financial information; HarperCollins Publishers; digital real estate platforms such as Realtor.com; and news outlets including the New York Post, The Times and The Sun in the United Kingdom, and publications in Australia.

News Corp serves audiences and customers primarily in the United States, the United Kingdom and Australia, with additional international operations.